Writer: Obinna Ekezie Founder and CEO, Wakanow.com
Hiring in-house talent or outsourcing? Both have perks and downfalls. From my experience as CEO of a full-service online travel company called Wakanow. I’ve found that the decision comes down to the scope of the project. Is this a short-term project, where the talent is needed only for a few months? Is there a long-term need for the type of work? Is there a willingness on your part to pay medical benefits or match a percentage of a 401(k) plan? At Wakanow, I use a hybrid model where some of my talent is in-house (technical side of website development), and some is outsourced (digital marketing and SEO).
Cost-cutting solutions can be another top consideration of small-business owners, weighed against the hire’s expertise and your timeline.
Here are some of the pros and cons of in-house hiring and outsourcing to help you make the decision that’s right for your business.
The Pros of In-House Hiring
- Face-to-face conversations can offer more engagement between employees on the same project, which may help propel progress. These in-person discussions can help create new energy, which sometimes leads to bigger ideas. Some of the best ideas at Wakanow surfaced this way.
- Being able to offer a salary and room for growth can make in-house hires less of a flight risk. These employees may also be more vested in the long-term voice of the company.
- Intellectual property may be more likely to remain confidential. You can also have employees sign a non-compete contract, which can prevent them from taking ideas if they leave the company. Continue Reading >>>
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